—————Again, your cost basis, for the purpose of the sale, is going to start with what you paid for the property in 2006, not the fair market value in 2014
Are you sure about this? Everything I read on IRS publications points to using the fair market value on 2014 (when it was converted to rental from residence) to use as cost basis. In my scenario. Please note the details on OP for dates and values.
I appreciate you chiming in
